Buying a leasehold with a section 20

[Violetroselily]

Does anyone have experience of buying or selling a leasehold flat with a section 20 notice?

The flat I am hoping to buy has two section 20s, which will likely cost about 5-6k per leaseholder and potentially a couple of k more. I haven't had a chance to discuss with my solicitor yet, but from googling it seems that I should either request a drop in purchase price, or should request a retainer from the vendor for the amount.

Notwithstanding the fact that this will use up all of the sinking fund which is also a concern, is there anything else that I need to consider and discuss with my solicitor?

We are selling a flat that has major works coming up, it's ex-LA. We reduced the price accordingly and made sure the EA informed all viewers about it.

Why should the seller pay as you'll be the one who will benefit from the works? It's a completely commercial decision and you may get lucky of course!

@gu24mum because if I pull out they will have to pay it anyway and find a new buyer who may well do the same thing?

@dimmu have you been invoiced for your works yet? Or is it still in consultation?

It’s pretty standard for the section 20 to be paid by the old owner. It’s a buyers market out here, reduce your offer price accordingly.